Development Updates

Three unusual proposals

By Francis G. Slay

2 min read

Posted on 09.19.08

2 min read

Posted on 09.19.08

Earlier this week, the City’s TIF Commission set public hearings for three very different developments: a new LEED Platinum-certified building, a two-birds-one-stone project on South Grand, and something unexpected on the St. Louis riverfront.

Greenstreet Properties is proposing to rehabilitate a very underutilized property at Jefferson and Chouteau to LEED Platinum standards. This rehab is intended to transform a rusty warehouse into a modern energy efficient office/warehouse complex, complete with wind turbines and solar panels, which will be attractive to businesses committed to sustainability. A factor in this LEED certification is the property’s location in a dense urban environment with excellent access to public transportation and “walk to work” opportunities. The company already has two tenants interested in leasing the completed property.

Joe Klitzing and Robert Holton are proposing a new commercial building at South Grand Avenue and Juniata Street that will be a new home for Joe’s architectural firm, an engineering firm, and a restaurant, SanSai Japanese Grill. What makes this proposal particularly interesting is that Joe’s purchase of the Commerce Bank property will also provide parking for the South Grand business district, which has experienced a significant parking shortage as the district has grown. Alderman Steve Conway and the business district support the proposal, which not only adds new a new business to the district and provides a new home for two of the district’s existing businesses but also fills in a significant gap in South Grand’s streetscape and helps the district address its parking challenges.

The Rodgers brothers are pursuing a proposal to place 175’ tall “luxury” observation wheel on Laclede’s Landing. At the base of the wheel (which uses fully enclosed, air-conditioned gondolas), the brothers plan a gathering facility suitable for corporate events. This proposal has the support of the Laclede’s Landing business district, Pinnacle Entertainment, CVC Director Kitty Ratcliffe, and Alderwoman Phyllis Young. Similar installations are located in Niagara Falls, New York and on California’s Santa Monica Pier. (This is probably the most interesting TIF proposal the City has ever received, and we are looking forward to working through the challenges presented — e.g., is an observation wheel real property? Is it personal property?)